Rose reports £3m 2013 loss

Kate McCann
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PETROLEUM company Rose, formally Vane Minerals, has reported a £3.3m loss in its annual results for 2013, following an impairment charge of £2.9m on its uranium assets.

The loss represents a marked change from 2012, when Vane posted a net loss after tax of £542,619. The group reported a gross profit of £1.6m compared to £1.7m in the previous year.

Chairman the Rt Hon Earl of Kilmorey PC, said Rose has entered the new year with momentum. “The company elected to move the emphasis of its core business into the oil and gas sector based on the excellent opportunities available,” he added.